High Wire Networks Announces Managed Services Agreement with Florida-based Network Operator

Rhea-AI Summary

High Wire Networks Inc. (OTCQB: HWNI) has announced a managed services agreement with a growing network operator in Florida. This contract is projected to generate annual revenues between $1 million and $4 million with potential for expansion. Services provided include managed voice, recruitment outsourcing, network management, and cybersecurity. The project is set to ramp up quickly in the first quarter of 2022. CEO Mark Porter emphasizes the alignment of this agreement with the company's digital transformation strategy and aims to establish itself as a leading global Systems Integrator.

Positive

• Contract expected to generate annual revenue of $1 million to $4 million.
• Immediate project initiation leading to rapid ramp-up in Q1 2022.
• Strategic alignment with digital transformation goals.

Negative

• None.

Contract Expected to Bring $1 Million to $4 Million Annually with Possible Expansion

BATAVIA, Ill., Jan. 12, 2022 (GLOBE NEWSWIRE) -- High Wire Networks Inc. (the “Company” or "High Wire") (OTCQB: HWNI), announced today it has entered into a managed services agreement with a fast-growing network operator and provider of wholesale services to wireless network operators, business services, and residential and hospitality clients throughout Florida.

Under the agreement, High Wire will provide several managed workstreams that include managed voice service offerings, managed recruitment process outsourcing, network management services, and cybersecurity offerings. The project started immediately and is expected to ramp quickly this first Quarter and beyond.

“This agreement and other similar projects in pursuit, fully support what our organization is becoming,” said High Wire CEO Mark Porter. “The marriage of our managed services capabilities and our tech-enabled technology services organization allow us to deliver on a unique value proposition to our clients.” 

“As we accelerate our digital transformation strategy, we look to become the leading global Systems Integrator delivering exclusively through our partner network,” added Porter.

About High Wire Networks
For 20 years, High Wire Networks Inc.(OTCQB: HWNI) has been a trusted partner to VARs, MSPs, distributors, integrators, manufacturers and telecom providers by enabling them to minimize overhead while extending delivery capabilities around the world. Our flexible workforce delivers vendor-agnostic technical field, professional and security services in more than 180 countries. Our services include design, installation, configuration and support for unified communications, wired and wireless networks, cabling and infrastructure, and electrical systems. Our Overwatch Managed Security Marketplace enables our partners to deliver comprehensive cybersecurity that's easy to sell and easy to buy for an affordable subscription. We also offer a variety of on-demand, rapid-response solutions with service levels ranging from two hours to the next business day for onsite break-fix and remote technical support. With High Wire Networks, partners Get Work Done. Learn more at www.highwirenetworks.com.

Forward-Looking Statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations. 

Investor Relations

www.highwirenetworks.com/investors
investors@highwirenetworks.com

Media Relations

Susanna Song
Vice President of Communications
susanna.song@highwirenetworks.com

 

FAQ

What is the expected revenue from High Wire Networks' new contract?

High Wire Networks expects the new contract to generate between $1 million and $4 million annually.

What services will High Wire Networks provide under the new agreement?

High Wire Networks will provide managed voice services, recruitment process outsourcing, network management services, and cybersecurity offerings under the new agreement.

When is the new project expected to ramp up?

The project is expected to ramp up quickly in the first quarter of 2022.

What are High Wire Networks' plans for their digital transformation?

High Wire Networks aims to become the leading global Systems Integrator as part of their digital transformation strategy.